Crude Pipelines definition
Examples of Crude Pipelines in a sentence
Subject to Sections 4.3 and 4.4, the Company shall pay the Partnership an amount equal to the Crude Throughput Fee multiplied by the Actual Shipments on the Lion Crude Pipelines (other than the Duplicative Crude).
During each Contract Quarter during the Term and subject to the terms and conditions of this Agreement, the Company agrees that commencing on the Commencement Date, the Company will ship on (i) the Lion Crude Pipelines, the Lion Crude Minimum Throughput Commitment, (ii) the Gathering System, the Gathering System Minimum Throughput Commitment and (iii) the Products Pipelines, the Product Minimum Throughput Commitment.
In addition, if TRMC is prevented from receiving crude petroleum from the Crude Pipelines as a result of a Force Majeure event affecting the Storage Facility or other facilities owned by TLO, its obligation to ship the Minimum Throughput Commitment shall be reduced accordingly.
TLO will agree to operate and maintain the Short Haul Pipelines in good working order and ship crude petroleum on the Crude Pipelines and refined petroleum products for TRMC on the Products Pipelines that collectively comprise the Short Haul Pipelines, subject to the terms and conditions of this Agreement.
Citi shall at all times maintain shipper status on each of the Included Crude Pipelines, Included Product Pipelines and other Included Locations on which Crude Oil or Products, as applicable, may be shipped during the Term of the Agreement.
Subject to the flash title purchases and sales described in Section 5.1, Citi shall retain title through the Included Crude Pipelines and in the Crude Storage Tanks.
With respect to Crude Oil held in Included Locations, title and risk of loss to such Crude Oil shall pass from Citi to DKTS (i) as Crude Oil passes at the relevant Crude Delivery Point; provided that title and risk of loss shall remain with Citi during Crude Oil transfers between Included Locations that occur on Included Crude Pipelines.
TSPC and TRMC shall enter into one or more pipeline service orders for the Crude Pipelines, the Refined Product Pipelines and the Other Commodities Pipelines substantially in the form attached hereto as Exhibit 1-A, Exhibit 1-B and Exhibit 1-C respectively (each, a “Pipeline Service Order”).
Each Month during the Term, TRMC shall ship the Crude MTC on the Crude Pipelines, or, in the event it fails to do so, shall remit to TLO the Crude Shortfall Payment pursuant to Section 5(d)(i) below.
TRMC warrants that all Products delivered into the Crude Pipelines and Refined Products Pipelines under this Agreement shall meet the latest applicable pipeline specifications or mutually agreed upon specifications for that Product upon receipt at the applicable Segment and contain no deleterious substances or concentrations of any contaminants that may make it or its components commercially unacceptable in general industry application.